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>> look at what -- look at what ronald reagan and tip o'neill did. they worked together out of a frame work to lower tax rates and broaden the base and fix na. we are saying, here's our frame work, lower tax rates 20%. we raised $1.2 trillion in income taxes and forego $1.1 trillion in loophole deductions. we are saying, deny the loopholes and deductions to higher-income taxpayers, so more of their income is taxed -- >> can i translate? >> to lower the tax rates across the board. what we are saying -- >> i hope i get time to respond-- >>> you will get time. >> we want to work with congress on how best to achieve this. >> martha: no specifics? >> lower tax rates 20%, start with the wealthy. work with congress to do it? >> martha: you guarantee this math will add up. >> six studies have guaranteed and verified. >> martha: vice-president -- [overlapping dialogue] >> let me translate. let me have a chance to translate. >> first of all, i was there when ronald reagan tax rates and he gave specifics of what he was going to cut, number 1 nterms of tax expen
>> look at what -- look at what ronald reagan and tip o'neill did. they worked together out of a frame work to lower tax rates and broaden the base and fix na. we are saying, here's our frame work, lower tax rates 20%. we raised $1.2 trillion in income taxes and forego $1.1 trillion in loophole deductions. we are saying, deny the loopholes and deductions to higher-income taxpayers, so more of their income is taxed -- >> can i translate? >> to lower the tax rates across the...
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Oct 12, 2012
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. >> look at what ronald reagan and tip o'neill did. they worked together to broaden the base and lower tax rates. what we're saying is, here is our frame work. lower taxes 20%. 1.1 million in loopholes and deductions. deny those loopholes and deductions to higher-income taxpayers so more income is taxed, which has a broader base of taxation. and here is why i'm saying this. what we're saying -- >> i hope i get time to respond to this? >> you will get time. >> we want to work with congress, that means specifically. >> no specific. >> what we're saying is lower tax rates 20%. >> and you guarantee this math will add up. >> six studies have guaranteed and said this math adds up. >> let me translate. >> i'll come back in a second, right? >> i was there when ronald reagan you gave tax rates, he gave specifics of what he would cut in terms of taxan expenditures. 90% of small businesses in america make less than 250,000. let me tell you who other small businesses are. hedge funds, that make $600, $800 million a year. that will count as small b
. >> look at what ronald reagan and tip o'neill did. they worked together to broaden the base and lower tax rates. what we're saying is, here is our frame work. lower taxes 20%. 1.1 million in loopholes and deductions. deny those loopholes and deductions to higher-income taxpayers so more income is taxed, which has a broader base of taxation. and here is why i'm saying this. what we're saying -- >> i hope i get time to respond to this? >> you will get time. >> we want to...
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Oct 12, 2012
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>> look at what ronald reagan and tip o'neill did. they worked together out of a framework to lower tax rates and broaden the base and worked together to fix that. what we're saying is, here's our framework. lower tax rates 20%. we raise about $1.2 trillion through income taxes. we forego about $1.1 trillion in loopholes and deductions. so what we're saying is, deny those loopholes and deductions to higher income taxpayers so more of their income is taxed which has a broader base of taxation. >> can i translate? >> so we can lower tax rates across the board. here's why i'm saying this. what we're saying -- >> i hope i'm going to get time to respond to this. >> you'll get time. >> we want to work with the congress on how best to achieve this. that means successful. >> no specifics -- >> what we're saying is lower tax rates 20%. start with the wealthy, work with congress to do it. >> you guarantee this math will add up? >> absolutely. six studies guaranteed, verified this math adds up. >> vice president biden? >> let me translate. let m
>> look at what ronald reagan and tip o'neill did. they worked together out of a framework to lower tax rates and broaden the base and worked together to fix that. what we're saying is, here's our framework. lower tax rates 20%. we raise about $1.2 trillion through income taxes. we forego about $1.1 trillion in loopholes and deductions. so what we're saying is, deny those loopholes and deductions to higher income taxpayers so more of their income is taxed which has a broader base of...
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Oct 12, 2012
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. >> look at what ronald reagan and tip o'neill did. they worked together to broaden the base and lower tax rates. and they worked together to fix that. what we're saying is, here's our framework, lower taxerates about 20%. we forego about 1.1 trillion in loopholes and deductions. whoa we're saying is deny those loopholes and deductions to higher income taxpayers to more of their income is taxed. so we can lower tax rates across the board. here's why i'm saying this. >> i hope i'm going to get time to respond to this one. >> you'll get time. >> we want to work with congress on how to achieve this. >> no specifics? >> lower tax rates 20%. start with the wealthy. work with congress to do it. >> you guarantee this math will add up? >> six studies have guaranteed. six study have verified this math adds up. >> let me have a chance to translate. i was there when ronald reagan gave specifics on what he would cut. number two, 97% of small businesses in america make less than $250,000. let me tell you who some of the small businesses are. hedge
. >> look at what ronald reagan and tip o'neill did. they worked together to broaden the base and lower tax rates. and they worked together to fix that. what we're saying is, here's our framework, lower taxerates about 20%. we forego about 1.1 trillion in loopholes and deductions. whoa we're saying is deny those loopholes and deductions to higher income taxpayers to more of their income is taxed. so we can lower tax rates across the board. here's why i'm saying this. >> i hope i'm...
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Oct 12, 2012
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>> first of all, i was there when ronald reagan was there. he gave specifics of what he was going to cut, number one, in terms of tax expenditures. number two, 97% of the small businesses in america make less than $250,000. let me tell you who some of those other small businesses, hedge funds that make $600, $800 million a year. they dhunt as small business. let's look at how sincere they are. governor romney on "60 minutes" about ten days ago was asked, governor, you pay 14% on $20 million. someone making $50,000 paid more than that. do you think that's fair? he said oh, yes, that's fair. that's fair. and they're going to talk -- you think these guys are going to go out there and cut those loopholes? the biggest loophole they take advantage of is the carried interest loophole and capital gains loophole. they exempt that. now, the reason why. aei study, the american enterprise institute study, the tall policy center study, the reason they say taxes are going up on the middle class, the only way you can find $5 trillion in loopholes is cut the
>> first of all, i was there when ronald reagan was there. he gave specifics of what he was going to cut, number one, in terms of tax expenditures. number two, 97% of the small businesses in america make less than $250,000. let me tell you who some of those other small businesses, hedge funds that make $600, $800 million a year. they dhunt as small business. let's look at how sincere they are. governor romney on "60 minutes" about ten days ago was asked, governor, you pay 14% on...
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>> first of all, i was there with ronald reagan. he gave specific to what he was going to cut, number one, in terms of tax expenditures. number two, 97% of the small business in america pay less than-- make less than $250,000. let me teal you who some of other small businesses are, hedge funds that make 600, 800 million a year. that's who they count as small business because they're pass-through. let's look at how sincere they e.e. governor romney on "60 minutes--" i guess it was about 10 days ago-- was asked, governor you pay 14% on $20 million. someone making $50,000 pays more than that. do you think that's fair? he said oh, yes, that's they are, that's fair. and they're going-- you think these guys are going to go out there and cut those loopholes. the biggest loophole they take advantage of is the carried interest loophole and capital gains loophole. they exempt that. there's not enough it's reason why the a.a.i. study, the american enterprise institute study, the tax policy study, the reason they say taxes will go up on the mid
>> first of all, i was there with ronald reagan. he gave specific to what he was going to cut, number one, in terms of tax expenditures. number two, 97% of the small business in america pay less than-- make less than $250,000. let me teal you who some of other small businesses are, hedge funds that make 600, 800 million a year. that's who they count as small business because they're pass-through. let's look at how sincere they e.e. governor romney on "60 minutes--" i guess it...
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Oct 12, 2012
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look at ronald reagan, it gets right down to it, these horrible tragedies occur -- neil: you don't think it is an issue that drives and -- [talking over each other] >> let's get to the bottom of the facts. neil: senator, maybe you can enlighten me. when vice president biden was talking about those of the upper income, those earning a million dollars or more, the party has argued it is the 250,000-dollar threshold. the vice president just raise that? >> you referred to both because both have been debating and voting on the senate. but the position of the administration, which biden said clearly, turning the paul ryan, why won't you a least let us preserve the middle class tax cuts for those making under $250,000. neil: he kept mentioning 1 million. >> there were several illustrations there. neil: so was he talking about the change of the administration? >> i don't think so. we voted on both plants. the most recent preserve the tax cut for those -- neil: so it's not a million comments 250,000? >> i still do. i still think so. the republican filibuster stopped us from preserving these middl
look at ronald reagan, it gets right down to it, these horrible tragedies occur -- neil: you don't think it is an issue that drives and -- [talking over each other] >> let's get to the bottom of the facts. neil: senator, maybe you can enlighten me. when vice president biden was talking about those of the upper income, those earning a million dollars or more, the party has argued it is the 250,000-dollar threshold. the vice president just raise that? >> you referred to both because...
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Oct 12, 2012
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i was there when ronald reagan -- to give specifics of what he was going to cut. in terms of -- he gave specifics in what he was going to cut. 90% of acan businesses make less than 2 luckett $50,000. that counts as businesses. governor romney 10 days ago was asked, you pay 40% on $20 million. some are making $50,000 and paid more than that. do you think that is fair and he said that is fair. you think these guys are going to go out there and cut those loopholes? the loopholes, the biggest loophole that take advantage of is the interest loophole and capital gains loophole. the extent that. there's not enough -- the reason why the aei study, the tax policy center study, the reason they say it will -- taxes will go up on the middle class, the only way you can 5 -- fined $5 trillion is cut the local production. cut the health care deduction, take away their ability to take a tax break to send their kids to college. >> he is wrong about that. you can cut tax rates by 20% and still preserve these preferences for middle-class taxpayers. >> not mathematically possible. >>
i was there when ronald reagan -- to give specifics of what he was going to cut. in terms of -- he gave specifics in what he was going to cut. 90% of acan businesses make less than 2 luckett $50,000. that counts as businesses. governor romney 10 days ago was asked, you pay 40% on $20 million. some are making $50,000 and paid more than that. do you think that is fair and he said that is fair. you think these guys are going to go out there and cut those loopholes? the loopholes, the biggest...
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Oct 12, 2012
10/12
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>> ryan: look at what ronald reagan and tip o'neill did. they worked together to lower tax rates and broaden the base and worked together to fix that. we're saying here is our framework, lower tax rates about 20% -- we forgo about $1.1 trillion in loop holes and deductions, so what we're saying is deny those loophole and deductions to higher income taxpayers so more of their income is taxed -- >> biden: can i translate. >> ryan: so we can lower tax rates across the board -- >> biden: i hope i'm going to get time to respond -- >> you'll get time. >> ryan: we want to work on how to achieve this -- >> no specifics, then. >> ryan: lower tax rates 20%, start with the wealthy -- >> can you guarantee this math will add up. >> ryan: six studies have verified that this will add up -- >> vice president biden. >> biden: let me have a chance to translate. ronald reagan gave specifics to what he was going to cut number one in terms of tax expenditures. number two 90% of the small businesses in america make less than $250,000. let me tell you who some of
>> ryan: look at what ronald reagan and tip o'neill did. they worked together to lower tax rates and broaden the base and worked together to fix that. we're saying here is our framework, lower tax rates about 20% -- we forgo about $1.1 trillion in loop holes and deductions, so what we're saying is deny those loophole and deductions to higher income taxpayers so more of their income is taxed -- >> biden: can i translate. >> ryan: so we can lower tax rates across the board --...
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Oct 12, 2012
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>> ryan: look at what ronald reagan and tip o'neill did. they worked together to lower tax rates and broaden the base and worked together to fix that. we're saying here is our framework, lower tax rates about 20% -- we forgo about $1.1 trillion in loop holes and deductions so what we're saying is deny those loophole and deductions to higher income taxpayers so more of their income is taxed -- >> biden: can i translate. >> ryan: so we can lower tax rates across the board -- >> biden: i hope i'm going to get time to respond -- >> you'll get time. >> ryan: we want to work on how to achieve this -- >> no specifics, then. >> ryan: lower tax rates 20%, start with the wealthy -- >> can you guarantee this math will add up. >> ryan: six studies have verified that this will add up -- >> vice president biden. >> biden: let me have a chance to translate. ronald reagan gave specifics to what he was going to cut number one in terms of tax expenditures. number two 90% of the small businesses in america make less than $250,000. let me tell you who some of
>> ryan: look at what ronald reagan and tip o'neill did. they worked together to lower tax rates and broaden the base and worked together to fix that. we're saying here is our framework, lower tax rates about 20% -- we forgo about $1.1 trillion in loop holes and deductions so what we're saying is deny those loophole and deductions to higher income taxpayers so more of their income is taxed -- >> biden: can i translate. >> ryan: so we can lower tax rates across the board --...
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Oct 7, 2012
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it is also the second most watched debate ever after the 1980 meeting between ronald reagan and jimmy carter. senator biden and governor palin met at washington university in st. louis. it is one hour 40 minutes. good evening. the commission on presidential debates is a sponsor of this event and the two remaining presidential debates. tonight's discussion will cover a wide range of topics, including domestic and foreign- policy matters. it will be divided roughly into it will be divided roughly into
it is also the second most watched debate ever after the 1980 meeting between ronald reagan and jimmy carter. senator biden and governor palin met at washington university in st. louis. it is one hour 40 minutes. good evening. the commission on presidential debates is a sponsor of this event and the two remaining presidential debates. tonight's discussion will cover a wide range of topics, including domestic and foreign- policy matters. it will be divided roughly into it will be divided roughly...
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Oct 7, 2012
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they are paying no more than they did under ronald reagan. >> i do take issue with some of the principal, that redistribution of wealth principle. when you talk about barack's plan to tax increase affecting only those making 4250,000 that category. onesey're going to be the paying higher taxes thus resulting in fewer jobs being created and less productivity. now you said recently that higher taxes or asking for higher taxes or paying higher taxes is patriotic. in the middle class of america which is where todd and i have been all of our lives, that's not patriotic. patriotic is saying, government, you know, you're not always the solution. in fact, too often you're the problem so, government, lessen the tax burden and on our families and get out of the way and let the private sector and our families grow and thrive and prosper. an increased tax formula that barack obama is proposing in addition to nearly a trillion dollars in new spending that he's proposing is the backwards way of trying to grow our economy. >> governor, are you interested in defending senator mccain's health care plan?
they are paying no more than they did under ronald reagan. >> i do take issue with some of the principal, that redistribution of wealth principle. when you talk about barack's plan to tax increase affecting only those making 4250,000 that category. onesey're going to be the paying higher taxes thus resulting in fewer jobs being created and less productivity. now you said recently that higher taxes or asking for higher taxes or paying higher taxes is patriotic. in the middle class of...